Nigeria’s crude oil production rose from 1.307 million barrels per day (mbpd) in July to 1.352 mbpd in August.
According to the Organisation of the Petroleum Exporting Countries (OPEC) in its September Monthly Oil Market Report, this represents a slight increase of 45,000 barrels per day.
The OPEC report, based on direct communication with the Nigerian government, noted that the July output was 1.30 mbpd.
Read Also: Tinubu Introduces ‘Fuel’ At N230 Per Litre With CNG
This uptick comes after a period of declining production levels.
In May, Nigeria’s daily oil production had decreased further to 1.25 mbpd. OPEC data indicated a loss of 30,000 barrels per day, with production dropping from 1.28 mbpd in April to 1.25 mbpd in May.
However, there was a modest improvement in April, with production rising from 1.23 mbpd in March to 1.28 mbpd.
This marked a gain of 50,000 barrels per day after recent declines.
Earlier in the year, Nigeria’s crude production had fallen from 1.427 mbpd in January to 1.322 mbpd in February, and further decreased to 1.23 mbpd in March.
https://whatsapp.com/channel/0029VaihFajBadmT29ufud2Z
